EMA's 2022 sales were $10 million. If sales grow at 5% per year, how large will they be 5 years later, in 2027? Note: Apply the FV formula. The growth rate replaces the interest rate. $12.8 million O $12.6 million $12.6 million O $ 12.9 million

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.2: Future Values
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EMA's 2022 sales were $10 million. If sales grow at 5% per year, how large will they be
5 years later, in 2027?
Note: Apply the FV formula. The growth rate replaces the interest rate.
$12.8 million
O $12.6 million
O $12.6 million
O $12.9 million
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Transcribed Image Text:5 EMA's 2022 sales were $10 million. If sales grow at 5% per year, how large will they be 5 years later, in 2027? Note: Apply the FV formula. The growth rate replaces the interest rate. $12.8 million O $12.6 million O $12.6 million O $12.9 million « Previous A EFF F6 Next Connect CAPS
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